While some on Wall Street are upbeat about Disney's streaming profit focus, others worry it may be overplaying its hand.
Bob Iger has his work cut out for him as he tries to orchestrate a turnaround of Walt Disney Co. And while some on Wall Street were willing to give him credit for signs of progress after Wednesday’s earnings, others worried Iger may be overplaying his hand as he seeks to jolt the streaming business.
But are the media giant’s fortunes about to change? Perhaps a pivot is in store, Wells Fargo analyst Steven Cahall suggested. “The outlook is improving,” Cahall wrote, while keeping an overweight rating but trimming his price target by a buck to $146. “While it’s too early to underwrite what these changes might ultimately amount to, we walk away encouraged by what seems to be an increased urgency to optimize the core portfolio for growth and value creation,” he wrote, while sticking with an outperform rating and $110 price target.
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